I want to let out my leasehold apartment in Alderley Edge. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Your lease governs relations between the landlord and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Alderley Edge do not prevent subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I only have Fifty years remaining on my lease in Alderley Edge. I now want to extend my lease but my landlord is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to find the landlord. On the whole an enquiry agent would be useful to carry out a search and prepare an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Alderley Edge.

I own a leasehold house in Alderley Edge. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Alderley Edge who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Alderley Edge conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of flats in Alderley Edge both have about fifty years left on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Alderley Edge is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. For most purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Alderley Edge conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to choosing a Alderley Edge conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Alderley Edge conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Alderley Edge conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How familiar is the practice with lease extension legislation?

Leasehold Conveyancing in Alderley Edge - Sample of Questions you should ask before buying

Who manages the block? Many Alderley Edge leasehold apartments will incur a service bill for maintenance of the block levied on behalf of the freeholder. Should you acquire the flat you will have to pay this charge, usually quarterly during the year. This can differ from several hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge for you to pay annual, normally this is not a large figure, say around £25-£75 but you need to enquire it because on occasion it can be many hundreds of pounds. Does the lease contain onerous restrictions?

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Lease Extensions in Alderley Edge